VA Renovation

The VA Renovation Program is designed to help the men and women who serve our country repair or upgrade their home with the low rates VA lending programs offer. This program allows for minor renovation costs to be included in the loan amount of a house for purchase, or for repairs being done to an existing home with equity.

Program overlays and eligibility during the pandemic include:

• Conforming Loan Limits only
• If Refinance transaction, limited to 100% LTV
• Home must be habitable during renovation

All other program guides apply including but not limited to:

• Maximum renovation cost of $100,000
• 580 minimum FICO score
• Primary Residence Only
• 1 & 2-unit homes or Manufactured Homes
• Repairs must be minor remodeling or cosmetic in nature (see ineligible repairs on program matrix)
• Renovations greater than $50,000 require a 203(k) HUD Consultant
• Construction must be completed within nine months of closing, and
• Only one General Contractor may be used, registered with the VA and carry sufficient insurance through a current general insurance liability policy.